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The European Commission acknowledges not having enough money to fund one of its most successful programs and prestige: the Erasmus. Twenty-five years after it was created to allow students to do their course, or part of it in another country on the continent, the program is running out of money.

The problem stems in part from the inability of countries to fund these scholarships by 30%, as expected. After the European Parliament and Council have approved a budget that would be part of the funds advanced by each member state - after being reimbursed for European funds - what is happening is that neither country has money to advance, nor Europe provides funds to compensate.

French MEP who chairs the committee of the Community budget, Alain Lamassoure, is adamant: "The European Social Fund is bankrupt." The student exchange program is not the only one at risk. Lamassoure envisions, for example, similar difficulties with the background research and innovation.

Given the policy of restraint and austerity of most European governments and no new contributions, justifies Lamassoure, it is impossible to repay amounts Commission already advanced by governments. A hole that estimates standing at ten billion euros, including 400 million euros for France, 900 million for Spain and 200 million euros for the UK. [link to expresso.sapo.pt]